What is your net worth? $3,000,000
At what age did you become a net worth millionaire? 38
What region of New Zealand do you live in? Bay of Plenty
How did you accumulate your net worth, what are you invested in? Residential property, shares, savings, business.
What was your highest average household WEEKLY income after tax? $3,500
What is your career? Business owner
Do you have children? YES
Do you have a tertiary qualification? NO
Did you inherit any of your money? NO
What's the approximate value of your house? $550,000
Are you debt free now? NO
If NO, how much debt do you have and what is it for? $2,500,000 investment property mortgages
Are you in KiwiSaver? YES
Were you taught about money? YES
If YES, how were you taught? Advice from my mother: Save save save, live within your means, always have your own bank account.
What is the most enjoyable thing you do with money? Knowing I can live day to day and buy my necessities for my family and children without worrying about if I have enough.
Do you use your money or your time to help others? YES
If YES, can you please elaborate. Helping family when asked by sharing my knowledge in investing and renovation skills gained over the years to help them build their own wealth.
What is your greatest financial win? Starting investing in property as soon as the bank allowed us.
What is your worst financial mistake? Not starting sooner in the share markets.
What advice do you have for others? Make sacrifices today for tomorrow’s gains.
What is the point of having a net worth above $1,000,000. What does it mean to you? Now, It means I have options, not to spend!!! But where I can invest and diversify.
Finish these sentences:
If you want to build wealth do this… Start!!!!!! Delaying can be costly to future earnings. Only have debt on investments that can earn and/or grow in value.
If you want to build wealth avoid doing this… Procrastinating, the longer you wait the less time in the market and the less potential to earn. Never have consumer debt that costs you.
If these questions don’t adequately tell your story, feel free to briefly elaborate here: I enjoy the day to day tasks of how I have built my wealth through property and I know this has helped immensely in creating our net worth.